Gold continues to fall, what will happen next week?After the gold price fluctuated sharply at the high level in the past two days, gold finally broke down on Friday. In fact, the market was too active in the past two days, and the overall volatility was very large. In fact, it was still a little difficult to trade. Although the overall outlook is bearish, the rebound amplitude is actually not small each time. Now sometimes it rebounds more than 20 US dollars in a few minutes, so it may continue to fall after a loss. Now that the gold daily high is covered by dark clouds, how should we trade next week?
The gold 1-hour moving average has formed a death cross downward, so the gold shorts still have power, and the short-term gold can only rebound. After the rebound, the shorts will continue, and then the gold will enter a shock. After the high-level plunge of gold, the shorts will be more dominant in the short term. Unless there is a big positive news, it is difficult for gold to rise directly. The resistance for gold's rebound is 3076. If it is under pressure, then gold's rebound will mainly continue to be short on highs.
